In this video, I will walk through the rules and benefits of a Roth IRA. You should set up one of these retirement accounts early in your career and continue to contribute each year. I show an example of a married couple withdrawing funds from their ROTH IRA account early and you'll be able to see how much in tax and 10% penalties they have to make. I make an important point of having earned income in order to make a contribution. Here is a chart I reference in the video relating to the phase-out on the maximum contributions you can make to a ROTH IRA based on your modified adjusted gross income. 🛑 SUBSCRIBE! : shorturl.at/fL014 About my channel: Rob CPA channel was created with a mission to provide viewers with accurate content so they can be proactive in their tax planning strategies and build financial wealth. The video topics I selected reflect real-world issues that I’ve seen our clients experience relating to their personal tax returns, retirement plans,
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)